Malaysia files criminal charges against Goldman Sachs in 1MDB probe

Kuala Lumpur (VNA) - Malaysia said on December 17 that the country
has filed criminal charges against Goldman Sachs and two of the US bank's
former employees in connection with a corruption and money laundering probe at
state fund 1MDB.

Goldman Sachs has been under scrutiny for its role in helping raise funds
through bond offerings for 1Malaysia Development Bhd (1MDB), which is the
subject of investigations in several countries.

Malaysia's Attorney General Tommy Thomas said criminal charges under the
country's securities laws were filed on December 17 against Goldman Sachs, its
former bankers Tim Leissner and Roger Ng, former 1MDB employee Jasmine Loo and
financier Low Taek Jho in connection with the bond offerings.

According to Attorney General Thomas, the charges arise from the commission and
abetment of false or misleading statements by all the accused in order to
dishonestly misappropriate 2.7 billion USD from the proceeds of three bonds
issued by the subsidiaries of 1MDB, which were arranged and underwritten by
Goldman Sachs.

Earlier on November 13, Prime Minister Mahathir Mohamad accused Goldman Sachs
of “cheating" Malaysia in dealings with the state fund 1MDB.

After assuming power, PM Mahathir declared to give priority to addressing corruption and taking back losses of the 1MDB fund that was established by former PM Najib Razak in 2009.

Najib has been accused of involving in the loss of billions of USD in the bank’s transactions with foreign partners. He has pleaded not guilty.

The Malaysian Government set up a special task force to investigate the fund
with the support from the US, Switzerland, Singapore, Canada, and other related
countries. -VNA